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Environmental Labeling and Incomplete Consumer Information in Laboratory Markets
2002
Journal of Environmental Economics and Management
Survey evidence suggests that consumers care about the environment and are willing to pay a higher price for a product that generates less environmental harm. We induce buyer preferences over quality in a laboratory posted offer market to study sellers' incentives to offer products of differing quality. Buyers are unaware of the product quality before purchase, as is often the case for goods with differing environmental quality. We first document the market failure that arises from incomplete
doi:10.1006/jeem.2000.1170
fatcat:6wcz3cx3x5hvxgc5ucacw5emka